The release of the December CPI report triggered positive reactions in financial markets, particularly within the cryptocurrency sector. While headline inflation met expectations, core inflation fell below forecasts, fostering optimism for risk-on assets such as Bitcoin. Binance Open Interest (OI) experienced a sharp increase within two hours of the CPI announcement, reflecting heightened investor confidence. The report's dovish data sparked speculation about potential monetary policy shifts, with futures markets indicating a 30% probability of the Federal Reserve implementing an interest rate cut as early as March. The article explores the correlation between macroeconomic data and crypto prices, citing Bitcoin's sensitivity to US economic indicators.
The release of the December CPI report triggered notable reactions across financial markets, especially in the cryptocurrency sector.
In fact, CryptoQuant’s latest findings revealed that Binance’s futures market recorded a 3.30% surge in OI, which represented nearly half a billion dollars in growth. Total OI on the platform reached $10.96 billion, depicting heightened investor confidence and a synchronized rally in both spot and derivatives markets.that such alignment between spot price movements and futures activity is a hallmark of bullish momentum as it reflects increased risk appetite among market participants.
Jag Kooner, Head of Derivatives at Bitfinex, had earlier commented on the interplay between macroeconomic data and crypto, noting,
Cryptocurrency CPI INFLATION CRYPTOCURRENCY BITCOIN BINANCE
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